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    Cold Call
    A podcast featuring faculty discussing cases they've written and the lessons they impart.
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    • 14 Feb 2019
    • Cold Call Podcast

    The Delicious History of Hershey Chocolate

    Have you ever wondered how Hershey chocolate came to be so popular? Professor Nancy Koehn discusses the life and vision of Milton Hershey, the entrepreneur and philanthropist behind the Hershey chocolate bar, the town of Hershey, Pennsylvania, and the Milton Hershey School.  Open for comment; 0 Comment(s) posted.

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    Price BubbleRemove Price Bubble →

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    • 02 Oct 2017
    • What Do You Think?

    Do Bitcoin and Digital Currency Have a Future?

    by James L. Heskett

    SUMMING UP Bitcoin has shown to be a powerful digital currency, but the real story of the future is Blockchain, say James Heskett's readers. Open for comment; Comment(s) posted.

    • 20 Mar 2017
    • Working Paper Summaries

    Bubbles for Fama

    by Robin Greenwood, Andrei Shleifer, and Yang You

    Nobel laureate Eugene F. Fama has famously claimed that there is no such thing as a bubble, which he defines as a large price run-up that predictably crashes. Analyzing industry data for the US and internationally, the authors find that Fama is mostly right that a sharp price increase of an industry portfolio does not, on average, predict unusually low returns going forward. Yet the authors show that there is much more to a bubble than merely increases in prices; they show a number of characteristics that predict an end to the bubble.

    • 02 Mar 2016
    • Working Paper Summaries

    Extrapolation and Bubbles

    by Nicholas Barberis, Robin Greenwood, Lawrence Jin, and Andrei Shleifer

    Bubble episodes have fascinated economists and historians for centuries, in part because human behavior in bubbles is so hard to explain, and in part because of the devastating side effects of the crash. At the heart of the standard historical narratives of bubbles is the concept of extrapolation—the formation of expected returns by investors based on past returns. This paper presents a simple model of extrapolative bubbles that explains a lot of evidence and makes new predictions.

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